SEOUL, South Korea (AP) — Samsung Electronics said Thursday that its operating profit for the last quarter reached a record 107.4 trillion won ($80.5 billion), fueled by surging demands for its computer memory chips used in artificial intelligence systems.

Revenue for the July-September period rose to an all-time high at 195.3 trillion won ($146 billion), marking the company’s fourth straight quarter of record profit and revenue.

Samsung’s regulatory filing came a day after domestic rival SK Hynix also reported record third-quarter profit, as the two South Korean semiconductor giants, which together control about two-thirds of the global memory market, face seemingly insatiable demand for their chips amid the global AI boom.

Samsung said in a statement that it expects the demand for its AI-related chips to accelerate through 2027, outpacing supply as clients race to expand AI infrastructure.…